Forum Replies Created
Hi Maveroc,
I beleive these are capital costs, and can therfore be added to your cost base. This will reduce the effects of a capital gain once the property is sold.
David Femia
Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.auHello Smithers,
The strata managers generally look after the common property in such buildings. Their prices depend on the maintenance required, and the facilities provided. That is, does it have a pool, gym etc.
You will also find that the strata fees generally include building insurance. This will of course depend on the original agreement.David Femia
Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.auHello Smithers,
Deppro may be of some use to you.
David Femia
Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.auCaeryla,
Im sure your presence will be welcomed at the meetings. Age is no barrier to learning, and actually a wise move for future prosperity.
Email Tracey (see earlier post). Im sure she can give you the details of the next meeting.
David Femia
Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.auUnfortunately, these things happen at times.. Dont let it put you off investing though. Its all one big learning curve.
David Femia
Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.auHi Trueblue,
Your right, you cant charge the GST on residential rent.
I am aware of a few that have decided to do so, and claim that its been a benefit to them.
I will give the ATO a call tomorrow and do a little more research.
David Femia
Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.auActually, you may want to consider it regardless. I find property trusts to be like a business, and therefore treated as such.
Should you register for GST, you will be able to claim the GST components of the property costs.
As true blue mentioned, its mainly used in commercial, but I dont see why it cant be used for residential.
David Femia
Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.auHello Everyone,
Scott hit the nail on the head with this question.
They generally seem to be more concerned with wether or not you have owned a home before.
The legislation is a little ambigious. No specific time is stipulated, in regards to how long you will need to reside in the property.
David Femia
Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.auHello Caeryla,
Th FHOG applies to all residential properties. As long as you are an Australin resident, have not bought a property before, then the $7000 grant will stil be available to you.
David Femia
Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.auChark,
Perhaps insist on Photos. These days a digital camera should be part of any property managers office, but its often not the case.
Do some reference checks, and speak to other oweners. This will give you a good idea if the manager is doing the right thing.
David Femia
Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.auHi Terryw,
I think you are right there. Its a small price especially if things do go wrong. The manager is there to protect your interests.
If you do decide to get a manager, be sure that you research their ability, and professionalism.
David Femia
Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.auHello Everyone,
20% down seems to be the norm. For foreigners investing in Australia, banks such as ANZ will require a 20% Deposit.
Im sure this will work in reverse, if the loan originated from NZ.
As Tamara mentioned, a broker would be the best way to go.
David Femia
Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.auBruces,
Should you need a buyers advocate in Perth, please let me know.
We would be more than happy to help.
David Femia
Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.auHello,
There is a 50% cocncession on CGT if you own the property for more than 12 months. (owned as an individual or trust)
Should you sell prior to this, the total amount taxed will be based on your marginal tax rate. That is, the gain will be added to your income and taxed accordingly.
If you sell after the 12 months, only half of the gain will be added to your income and taxed accordingly.
David Femia
Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.auHello Everyone,
Your far better off speaking to a conveyancer. They will give you the legalities of such issues.
Being a non arms length transaction, this would be a wise choice.
David Femia
Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.auThanks Gus..
that was quite a good article.
David Femia
Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.auHello,
Generally not. These fees are payable depending on the contract. Some are paid after settlement, some are paid with an initial deposit, and the remainder after settlment.
We generally charge after settlement.
David Femia
Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.auHello Wilma,
Willi is right. Most agents will go for this, as they are genuinely keen on selling the home.
If you come across an agent that wants to play games, then you may want to look elsewhere.
Another suggestion is…”what will the vendor accept”. This is something she can disclose.
David Femia
Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.auHello Brendan,
I have built an independent investment company, specialising in residential property.
Visit our website and let me know if we can be of further assistance to you.
David Femia
Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.auHello Daniel,
I got a littles side tracked with the other issue.
Joondalup is a definite YES in my books.The rental market will do very well in the next couple of years. The prices are going up rather quickly though.
Clarkson will have the freeway and train line, however, it has never perfomed terribly weel, with capital growth.
I think the first thing you need to ask your self is…”why am i investing”. Once you have determined that, you can work your way back to finding the correct property, in the correct suburb, at the correct price.
David Femia
Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.au
